New Office Condo
For Sale
$425,000
401-2200 Traders Rd, Greenville, TX 75402
Newly built office condos feature reception, multiple offices, break area, restroom, and a covered front entry.
Property Size1,250 SF
Price / SF$340
Days on Market353
Property Features for 401-2200 Traders Rd
General Information
Standard status
Active
Size
1,250 SF
Total Parking Spaces
5
Additional Details
Highway Access
Yes
Office Units
1
Building Details
Tenancy
Single
Listing Agency:
Mckinney Real Estate Services
Listed By:
Toni Spray · License #0492686
(469) 688-8664
Source:
Exprealty
Added: Sep 20, 2025
Changed: Sep 4
Last Checked: Sep 6 at 9:56AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Mckinney Real Estate Services
Investment Insights
Based on property information with market context.
Newly built office condos are being developed for professional use and will include a reception area, multiple offices, a break area, and a restroom, along with a covered front entry. Each unit is planned with approximately 1,250 square feet under roof and includes five parking spaces per unit.
Construction is underway, with slab work reportedly poured between Sept 19 and Sept 30, and units are expected to be available by January 2026. The project is located in Greenville, about 0.5 miles from I-30, with easy access to SH Hwy 34, Roy Warren Parkway, FM 1570, and other area roads. The property is next to Gazebo Arbor green space.
A 4,996-square-foot whole building option is also available, alongside individual office condo units. The offering includes 20 units total, with 18 left to pick from at the time of the provided remarks.
Construction is underway, with slab work reportedly poured between Sept 19 and Sept 30, and units are expected to be available by January 2026. The project is located in Greenville, about 0.5 miles from I-30, with easy access to SH Hwy 34, Roy Warren Parkway, FM 1570, and other area roads. The property is next to Gazebo Arbor green space.
A 4,996-square-foot whole building option is also available, alongside individual office condo units. The offering includes 20 units total, with 18 left to pick from at the time of the provided remarks.
Key Highlights
- Newly built office condo concept with reception, multiple offices, break area, restroom, and covered front entry
- Approximately 1,250 SF under roof per unit and 5 parking spaces per unit
- 20‑unit office condo community with units available by January 2026 (18 left to pick from)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,852
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.73%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$317,040
$317.0K
Cap Rate 7%
$226,457
$226.5K
Cap Rate 9%
$176,133
$176.1K
Market Conditions
NOI Build-Up for 1,250 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$27.5K $21.96/SF
− Vacancy
−$6.3K −$5.05/SF
EGI
$21.1K $16.91/SF
− OpEx
−$5.3K −$4.23/SF
NOI
$15.9K $12.68/SF
Area
Hunt County, TX
Vacancy
23.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$317,040
Cap Rate 7%
$226,457
Cap Rate 9%
$176,133
Alternative Uses
Best Use
Office B
$226.5K
$198.2K – $264.2K
NOI $15,852 @ 7.0% cap · market cap 3.73%
Second Best
—
—
no second resolved use
Theoretical Best
Industrial
$1.24M
$1.09M – $1.45M
NOI $86,945 @ 7.0% cap · market cap 20.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
64
Businesses Nearby
Explore this area
Business Placement
Demographics for 75402, TX
18,983
Population
8,024
Households
2.4
Avg Household Size
41
Median Age
32%
College-Educated
93%
High-School Grad
90.8 sq mi
ZIP Area
209
Density / Sq Mi
$77,602
Median Household Income
$46,076
Median Earnings
$1,414
Median Rent
$252,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Newly built office condos feature reception, multiple offices, break area, restroom, and a covered front entry.
Where is this office units located?
The property is located at 401-2200 Traders Rd Greenville, TX.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Newly built office condo concept with reception, multiple offices, break area, restroom, and covered front entry; Approximately 1,250 SF under roof per unit and 5 parking spaces per unit; 20‑unit office condo community with units available by January 2026 (18 left to pick from)
